Computacenter PLC Pre-Close Trading Statement (6574M)
January 22 2016 - 2:00AM
UK Regulatory
TIDMCCC
RNS Number : 6574M
Computacenter PLC
22 January 2016
Computacenter plc
Trading Update - 22 January 2016
Computacenter plc ("Computacenter"), the independent provider of
IT infrastructure services that enables users, is today providing
an update on trading based on preliminary unaudited financial
information for the year ended 31 December 2015 ("the year").
The results in the text below exclude the impact of our
subsidiary R.D. Trading Limited ("RDC") in 2015 and 2014 following
the Group's disposal of RDC on 2 February 2015. For comparison
purposes the results including RDC are shown within the table
included in the Appendix to this Trading Update.
Financial Performance
The adjusted pre-tax results for the year are anticipated to be
in line with the Board's expectations for 2015, as upgraded at the
time of our 2015 Interim Results. This performance has been
achieved despite a substantial headwind throughout the year, due to
the strength of Sterling against the Euro, which has adversely
impacted Group profits by approximately GBP3 million.
Group revenue for the year was flat on a reported basis and
increased by 5% in constant currency. Group Services revenue
increased by 1% on a reported basis and 6% in constant currency.
Group Supply Chain revenue decreased by 1% on a reported basis but
increased by 5% in constant currency.
Financial Position
At the end of 2015, Group net funds was GBP120 million, which is
flat on last year.
After adjusting for the disposal of RDC and the net cash impact
of the Return of Value transaction completed in Q1 2015,
Computacenter's underlying net funds position has improved by circa
GBP44 million in the last 12 months.
United Kingdom
UK revenue grew by 3% for the year, with Services revenue
increasing by 8% and Supply Chain revenue flat. Pleasingly the pace
of our Services growth remains broadly consistent with the previous
year despite the significant reduction of one particular contract
(as previously set out in our Interim Management Statement dated 22
October 2014).
Germany
German revenue increased by 14% in constant currency for the
year, with Services revenue increasing by 7% and Supply Chain
revenue increasing by 17%. 2015 has been a breakthrough year for
Computacenter Germany's Services growth rate. During the second
half of 2015 we have managed to secure contracts that should enable
this to continue.
France
Our French business has performed ahead of our original
expectations for 2015, due to a strong fourth quarter in our Supply
Chain business. Revenue in constant currency decreased by 6% with
Services revenue declining by 10% and Supply Chain revenue down by
6% for the year as a whole. The Services revenue decline is due to
the loss of a small number of Services contracts towards the end of
2014. The decline in Supply Chain revenue was in line with our
continuing objective of aligning our French business with the Group
strategy.
Outlook
We are encouraged by the positive momentum that has built up in
our German business, which bodes well for significant growth in
2016. In France we have outperformed our expectations for 2015.
However, much still remains to be done to improve this position
still further and to make the business sustainable. The prospects
for the UK, particularly in Services, are still of growth but more
modest this year. The benefit of our portfolio of countries should
enable Computacenter to show another year of progress in 2016.
We look forward to publishing our final results for the year
ended 31(st) December 2015 on Friday 11(th) March 2016.
Enquiries:
Computacenter plc
Mike Norris, Chief Executive 01707 631601
Tony Conophy, Finance Director 01707 631515
Tulchan Communications
James Macey White 020 7353 4200
Conference Call
There will be a conference call for analysts and investors this
morning at 09:00. For dial-in details, please contact Charlotte
Horner at Tulchan Communications at
Computacenter@tulchangroup.com
Appendix
Change vs Q4 Q4 Change Q4 Q4 Change FY Change FY Change FY Change FY Change
2014 Change Constant Change Constant As Constant As Constant
As Currency As Currency Reported Currency Reported Currency
Reported ** Reported ** * ** * **
* (incl * (excl (incl (incl (excl (excl
(incl RDC) (excl RDC) RDC) RDC) RDC) RDC)
RDC) RDC)
---------- --------- ---------- --------- ---------- ---------- ---------- ---------- ----------
Supply
Chain
Revenue
UK (12%) (12%) (8%) (8%) (4%) (4%) 0% 0%
Germany (2%) 8% (2%) 8% 6% 17% 6% 17%
France (13%) (4%) (13%) (4%) (15%) (6%) (15%) (6%)
Group (8%) (3%) (7%) (1%) (3%) 3% (1%) 5%
----------- --------- ---------- --------- ---------- ---------- ---------- ---------- ----------
Services
Revenue
UK 2% 2% 2% 2% 7% 7% 8% 8%
Germany 2% 13% 2% 13% (3%) 7% (3%) 7%
France (21%) (12%) (21%) (12%) (19%) (10%) (19%) (10%)
Group 0% 5% 0% 5% 1% 6% 1% 6%
----------- --------- ---------- --------- ---------- ---------- ---------- ---------- ----------
Total
Revenue
UK (7%) (7%) (5%) (5%) 0% 0% 3% 3%
Germany (1%) 10% (1%) 10% 3% 14% 3% 14%
France (14%) (5%) (14%) (5%) (16%) (6%) (16%) (6%)
Group (6%) (1%) (5%) 1% (2%) 4% 0% 5%
----------- --------- ---------- --------- ---------- ---------- ---------- ---------- ----------
* Change vs Q4 & FY 2014 revenues
reported at 2014 exchange rates
** Change vs Q4 & FY 2014 revenues
reported at 2015 exchange rates
This information is provided by RNS
The company news service from the London Stock Exchange
END
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